CII Study Finds India Inc Positive on Growth in Manufacturing

Resource from: CBCC Likes:2939

Aug 16,2010

Despite rising raw material costs, infrastructure bottlenecks, threat of cheap Chinese imports and poor credit supply, Indian Inc is buoyant on the prospects of growth in the manufacturing sector in the next two quarters, a survey by the Confederation of Indian Industries (CII) said on Sunday. "Even though the recent hike in policy rates by the RBI (Reserve Bank of India) may have an impact on industry's growth trajectory, business sentiment remains positive and industry members expect the growth momentum to quarters," said Chandrajit Banerjee, director general, CII. Out of 110 manufacturing sectors covered by the survey, as many as 27 sectors are expected to register excellent growth rates of more than 20 per cent, 30 sectors are expected to record high growth rates of 10-20 per cent, 42 sectors are expected to witness moderate growth rates of zero to 10 per cent and 11 sectors are expected to witness negative growth during the July-September, 2010 quarter. According to the survey, sectors expected to grow at an excellent rate include automotives, electronics and consumer durables, ball and roller bearings and forging. Other sectors like tractors, electric fans and machine tools are also expected to perform fairly well in the next two quarters. But the October-December quarter is expected to be better than the previous sector as more sectors are likely to post excellent and high growth rates. The number of sectors expected to post excellent growth rates during the quarter would increase to 32 (from 27), while 40 sectors are expected to register high growth rates.

(CBCC)

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